Report indicates Falcon prospects could hold 570 bcf of reserves

Ray Tyson

Independent producer Falcon Natural Gas said an independent analysis of three of its prospects in Louisiana’s Gulf Coast basin concludes the prospects could contain a combined 570 billion cubic feet of natural gas reserves.

Conclusions in the report, prepared by geophysicist Kevin Hill, were based on high-quality 3-D seismic data and the fact all three prospects are in the prolific Avoca Mineral Area, one of Louisiana’s richest gas producing regions, Falcon said Sept. 20.

“Falcon’s Avoca Mineral prospects have perfect location, very attractive potential reserve numbers and involve relatively low exploration risks,” Hill said in his report.

He noted that a discovery in the Marg 3 prospect alone, which has a maximum reserve potential of 500 bcf, would become “a company maker.” The prospect is close to the Garden City and Paterson fields, which have already produced more than 688 bcf and 250 bcf respectively since their discovery in 1977.